Former De Beers Executive to Lead Firestone

Nov 4, 2021 6:35 AM By Rapaport News

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RAPAPORT... Firestone Diamonds has appointed Rob De Pretto as CEO to succeed Paul Bosma, who has left the company after seven years.

De Pretto, who started November 1, was most recently the chief operating officer and acting CEO of Zimbabwe Consolidated Diamond Company (ZCDC), Firestone said Wednesday. He has also held executive and leadership roles at Diamcor Mining, Anglo American Research and De Beers.

“Rob has a wealth of experience in the diamond industry, and we look forward to his contribution as the company navigates its way towards recommencing production at its Liqhobong mine [in Lesotho] in due course,” said nonexecutive chairman Patrick Meier.

Bosma, whose last day was October 31, will become head of metals and mining for investment management firm Gemcorp Capital. He will remain on Firestone’s board as nonexecutive director to provide operational guidance and ensure a smooth transition, the company explained.

Firestone is still working to reopen Liqhobong, which has been on care and maintenance since April 2020 amid the coronavirus pandemic. The company laid off most of its employees that July. The deposit will remain shut until the miner can work out a deal to restructure more than $80 million in debt it owes ABSA bank, it explained.

“[Bosma] successfully guided the company through a difficult period with the mine on care and maintenance,” Meier added. “I look forward to his continued contribution as a nonexecutive director. We continue to pursue the necessary balance-sheet restructuring and will provide further updates in this regard in due course.”

Image: Rob De Pretto. (Rob De Pretto/LinkedIn)

Tags: Anglo American Research, De Beers, Diamcor Mining, diamonds, Firestone, Firestone Diamonds, Gemcorp Capital, Lesotho, Liqhobong mine, Patrick Meier, Paul Bosma, Rapaport News, Rob De Pretto, Rough Diamonds, ZCDC, Zimbabwe Consolidated Diamond Company